St. John Properties has begun construction of four commercial buildings in the 17-acre Leesburg Tech Park along Sycolin Road. The project will provide nearly 160,000 square feet of R&D/flex space for delivery next summer.
Leesburg Economic Development Director Russell Seymour said the project will address the pent up demand commercial space.
“The town of Leesburg is a well-known and preferred destination for many companies, but currently lacks the available product to meet present-day real estate requirements,” he said. “Having an experienced and highly-successful real estate development company such as St. John Properties invest in our town is exactly what we need. The Leesburg Tech Park will provide Leesburg with the opportunity to meet increasing demands for quality space. The growing business community will continue to fill important needs in our area, including providing local employment opportunities for our citizens.”
St. John Properties is constructing two single-story R&D/Flex buildings each consisting of 41,040 square feet of space, as well as a 26,520-square-foot and a 51,120-square-foot building. Each will feature 16-foot clear ceiling heights, dock and drive-in loading and suite sizes beginning at 1,800 square feet. A free surface parking lot surrounds all of the buildings.
“St. John Properties is extremely confident in our investment in the Town of Leesburg because we recognize the tremendous fundamentals and economic drivers that remain unique to this region,” stated Matt Holbrook, regional partner for St. John Properties. “This includes steady demand in the marketplace, a supply constraint for new high-quality Flex/R&D space and a rapidly-expanding residential population that continues to stimulate new businesses. The park’s close proximity to Leesburg Executive Airport is another significant amenity and differentiation point, especially considering the new efforts to receive international flights at the facility.”
Holbrook noted that the area around Leesburg’s airport is become a key business hub, in part attributable to investments made by the town.
“We are extremely fortunate to be developing in an area where local officials have recognized the need to create new zoning for a flex industrial/business park, as well as the foresight to make infrastructure improvements that encourage business relocations and expansion,” he said. “The upgrades planned for Sycolin Road, which fronts our property, will make a tangible difference and dramatically assist our leasing activities.”
St. John Properties is a privately-held commercial real estate firm that has developed/constructed and owns its portfolio of more than 19 million square feet of R&D/flex, office, retail and warehouse space in Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Virginia, Utah and Wisconsin. The company was named the national “2018 Developer of the Year” by NAIOP, the Commercial Real Estate Development Association.
For more information about the company go to www.sjpi.com